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Fly News Breaks for August 5, 2019
ABMD
Aug 5, 2019 | 08:15 EDT
In a surprise move late Friday, Centers for Medicare and Medicaid Services left reimbursement for the primary Impella reimbursement code unchanged in the final rule for fiscal 2020, Jefferies analyst Raj Denhoy tells investors in a research note. This comes after CMS had proposed cutting the rate by 27%, the analyst points out. While reimbursement is a minor consideration in adoption and use of Impella, the reversal should be seen as a positive for continued growth and for Abiomed shares, contends Denhoy. He keeps a Buy rating on the stock with a $255 price target.
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